Qtum was crowd-funded and is undergoing development. It's been referred to as "China's Blockchain".

It is designed primarily for smartphones, and strongly supports logistics (shipments of goods), however that is not its' use. It is a "layer" between Bitcoin and Ethereum.

The short story is this. You execute an Ethereum contract, and when the contract is fulfilled, then the payment is made in Bitcoin.

Example: A trucker bangs the dock and makes a delivery. The receiving party verifies the shipment. They wave their phones and payment is made. That's a poor, and very limited explanation of Qtum.

The crowd-sale sold out very quickly 2 months ago. Although it was open to US residents, very few were actually able to purchase any, because the particular exchange that handled the US sales bungled it badly. There was tremendous US interest in Qtum. The offering price was 3800 Qtum for 1 Bitcoin.

The Qtum Foundation is located in Singapore. The tokens are expected to be release in September. The blockchain is already working.

More information will be provided. China's Blockchain. This is going to be huge.

Half a year is a long time in the crypto world though. To wait that long between ICO and token release really tests the mettle of those wanting to get in on this one. Which I think is a good thing, assuming one knows the project is legit.

I don't like that my ICO token is held and unavailable to be withdrawn on some odd exchange, but that was the price of entry for this one. Hopefully it will pay off.

just because this crypto is in china is reason enough to own some of itbut seems you guys are saying it isn't even trading yet, we can 'own' promises to get it later this year please let all of us know when you pro's own some actual coins and want to sell a few

mnymgr1 wrote:just because this crypto is in china is reason enough to own some of itbut seems you guys are saying it isn't even trading yet, we can 'own' promises to get it later this year please let all of us know when you pro's own some actual coins and want to sell a few

I am very bullish on this one. I think it will actually start to be traded in September, assuming there aren't delays in the release. Not only will this be big in China, but because US participants really couldn't participate in the ICO, their first crack at it will be on exchanges in SEP too. My advice would be if you want to get some Qtum, get it early after release on the exchanges - and that might even mean setting up an account on a Chinese exchange first (obvious risk involved - DYODD). This one will be a longer term hold for me.

This is the Qtum team's update from 22 May in regards to Qtum trading:

Due to the recent high demand from users and exchanges asking for activating the trading of QTUM, Qtum team wants to make it clear that we hold no position on whether the exchanges should open for trading or not. The roadmap of Qtum blockchain development remains the same - the test net is expected to be released by June 2017 and the main net by September 2017.

The coin is being "traded" for over $6 now on Yunbi (Chinese exchange), and had over $8 million total traded in the last 24 hours.

So based on the link below, some of the ICO investors first purchased through Yunbi. While they are unable to take physical possession of their coin (because Qtum wallet doesn't exist yet because the MainNet launches in Septemeber), Yunbi is actually allowing those ICO purchasers to exchange their Qtum on the market. Therefore, all the Qtum trading happening is changing owners, but none is yet being withdrawn from the exchange.

From Qtum: The social media platforms are very different in China. If you're in all the Qtum Wechat groups, there is a lot of activity. Bitcointalk is banned in China, it requires a VPN to get around the Great Firewall. Chinese seem to mostly stick to Wechat. We make updates about what's going on for Chinese events in our newsletter, and we try to cross-post this information to all our channels.

Qtum TestNet release between 15-30 June.

Here is the bitcointalk ANN thread of over 196 pages for those with all kinds of time to read and enjoy. I started at page 180 in order to find some of the above information.

This post shows that there were a total of 3,708 Qtum "backers" or buyers, in the ICO sale, purchasing 51,000,000 tokens (total supply of 100 million with a 1% annual inflation rate) in a total of 6,872 overall transactions.

mnymgr1 wrote:just because this crypto is in china is reason enough to own some of itbut seems you guys are saying it isn't even trading yet, we can 'own' promises to get it later this year please let all of us know when you pro's own some actual coins and want to sell a few

I might do that John, but you'll have to pay the market price. Buy a contract, while they are still cheap.

Qtum is going to rock China, and China knows it is going to happen. Qtum is going to be the currency for We-Chat.

Do the math - DYODD. My personal prediction: Qtum is more valuable then Ethereum.

I''m not a sh*t-coin pumper - I'm a Bear. If I had the capital, I'd short the top-10 sh*tcoins [not Bitcoin].

It takes a lot for me to buy into anything - My opinion is that Qtum deserves your serious consideration.

guys, I'd be happy to own some qtum right now, but me finding somewhere to buy a contract, sending money/btc, etc.I'm happy I know how to turn on the computer everyday, glad I learned how to type in high school.Way back before most of you were born....lol

Altima wrote:If you guys are serious, I wouldn't mind looking into setting up a Yunbi account. I have friends who are in China. Lol

The important questions/issues are...

1) Can a Yunbi account be setup without the typical KYC/AML type regulations. Can I sign up anonymously with just an email address (like most other exchanges)?2) Do I need to buy CNY in order to acquire Qtum or can I just exchange direct with BTC or ETH? It appears one would need to buy CNY first, but I'm not 100% on that. If so, can it happen on the exchange? And how?3) After September when we can transfer out, is there a daily limit to withdrawals? If so, does it change if verified (and by how much)?

The obvious risk is the Qtum can't be withdrawn until the blockchain is live and wallets exist - sometime in September. So any hiccup or fraud at Yunbi exposes us to a total loss.